MUMBAI (Reuters) - The Indian rupee firmed to a more than three-week high on Monday as the greenback languished on bets the U.S. Federal Reserve would scale back its pace of rate hikes as the world's biggest economy stares at a possible recession.
The partially convertible rupee was trading around 79.15 per dollar in early morning trade, its strongest since July 7, compared to a close of 79.25 on Friday.
India's 10-year government bond yields were little changed at 7.2983% after dropping by 9 basis points last week to 7.3196%.
Markets now look towards the Reserve Bank of India's monetary policy decision on Friday where a 35-50 point basis point rate hike was expected.
(Reporting by Anushka Trivedi; editing by Christian Schmollinger)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 91.38 INR | +0.35% | +1.04% | - | ||
| 56.18 INR | -0.12% | -0.27% | - | ||
| 61.01 INR | -0.14% | -0.46% | - | ||
| 83.53 INR | +0.04% | +0.07% | - | ||
